| According to the International Monetary Fund, Russia’s real GDP will expand by 3.7 % y/y in 2012, and by 3.8% next year. Growth continues to be revised down in response to the slowdown of world output. It seems that the new medium term growth rate is in the order of 4%, compared to 7% in the five oil boom years before the onset of the Great OECD Recession.
The real GDP of advanced economies is expected to increase by only 1.3 and 1.5% y/y in 2012 and 2013 which means Russia’s economic catching-up process is alive and well, certainly from a macro perspective...............................................Full Article: Source
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